Top BPay Betting Sites in Australia
You must have heard the term BPay many times if you are a frequent visitor to Australian sportsbooks and casinos. In fact, the Australian gambling industry prefers to utilise a small list of payment methods for anti-money laundering regulations.
With that being said, there are so many things you may not know about BPay. That is where we step in to show you the ropes and guide you through the ins and outs of this remarkable payment approach. To find out more about it, keep reading with attentiveness!
What is BPay?
Unlike the rest of the world, Australians have their own betting payment methods for online betting sites. You will notice these payment methods when you visit any Australian sports betting sites, and the most common ones are not even bank transfer credit card.
Other than the obvious payment channels, the live streaming betting sites Australia also use PayPal, Apply Pay, PayID, POLi, Neteller, Skrill, EcoPayz, Flexepin, Paysafe Card, and cash-ins. However, not all payment methods are available on all the Australian betting sites, but a few.
According to the regulations of the country, some online betting sites Australia may also refuse to let bettors withdraw funds from the bookmaker in any other form than a bank transfer. For this reason, it is important that foreign bettors are careful about these laws when they are gambling on Australian sports betting sites.
BPay is a common name in the Australian live streaming gambling scene because most punters are making deposits to the platform through this payment method. Now that it is available on App Store iOS devices, it got easier for bettors to deposit instant funds to their betting account and wager on their favourite sports immediately!
The payment gateway provides ultimate security during transactions, has a good reputation in the country, is easy to use, charges no processing fee, and keeps adding new features to enhance the customer experience on the platform.
In fact, there is more to this payment approach than meets the eye, which is why we are here to tell you all about it! Keep scrolling to find out more!
How to Setup Your BPay
The Bpay betting sites list is a long one. So, if you’re rushing to set up your BPay account, there are some things you need to know first.
First of all, BPay can compete head-to-head with PayPal, Neteller, and Skrill in the field of instant online money transfer, except that this platform is only exclusive to the residents of Australia and New Zealand.
Regardless, you can take advantage of all that BPay has to offer if you have a bank account with Australian financial institutions that support this payment method.
Get in touch with your bank and find out if it is offering BPay services to customers. If the answer is yes, you can ask them to aid you in setting up a BPay account. There is no need to register with the BPay service though. You just have to link your bank or credit card details.
Even after you find out that your bank is offering BPay, they will still take some time to review if you are suitable for BPay services. A team member may get in touch with you to discuss your potential to become a BPay customer.
Besides, according to the banking regulations of financial institutions, setting up a BPay account may cost you around $99, and each transaction may cost $0.88.
How to Deposit with BPay
For BPay to work for you, you must first choose betting sites that accept BPay as their payment method. Then, log into your online banking platform, select BPay, and find your unique biller code and Customer Reference Number (CRN).
Now, enter the amount of money you want to deposit to the betting site. You will also get a description box to fill up. Just write the reason for the payment, for example, deposit to XXX betting site.
Credit cards may not be accepted by some betting sites. That is where BPay comes in handy. BPay won’t charge you anything for making transactions to the sportsbook, but credit card transfers always incur certain charges.
You should also check if there are any limitations imposed by your bank on the amount of money you can transfer with BPay. See if you can remove the restrictions by speaking to the customer service representative. If not, just consider it as a deposit limit strategy for responsible gambling!
How Long Do BPay Deposits Take?
Frankly, BPay deposits usually get through to a live streaming betting site Australia instantly, even when you are using the Apple App Store iOS devices. Deposits reach the sportsbook when you BPay before 6 pm on the same day.
BPay payments are processed instantly, which is what made it the best in the betting industry in Australia. In fact, the scheduling tool that comes with BPay lets you schedule your deposit payment before the actual date of payment. With that being said, you should not worry too much about how long the payment takes because it is almost always instant!
However, if the transactions have been processed after 6 pm, then the funds will reach the bookie the next day. Until then, you won’t be able to place any wager on any sports or races. So, that gives you some time to cool off from gambling!
BPay Deposit Limits
Luckily, there are no limits placed on BPay deposits for Australian punters. Still, some banks may enforce their own limits on BPay transactions, so please check with your bank before making any BPay deposits to Australian betting sites.
How to Withdraw with BPay
It may vary based on the bank regulations, but usually, you can’t withdraw funds with BPay, especially when you are dealing with Australian live streaming betting sites. Since BPay is a billing service, you can only pay deposits through it. Even the rules of Aboriginal Torres Strait Islanders restrict Aussie live streaming sportsbooks to send funds to BPay accounts to comply with anti-money laundering regulations.
Advantages of BPay
In order for Australian punters to get familiar with BPay, they should know what makes this platform useful and secure for day-to-day transactions. We will give you all the positive details, as well as the negative ones as you keep reading further!
Security is one of the best features of BPay betting sites that allows bettors to trust the interface for making deposits. During the payment process, BPay doesn’t save any of your personal information, such as username and password. For that reason, none of your personal data can be snatched away by intruding third-party syndicates.
According to RFi research, 81% of users find BPay a secure form of payment when it comes to making deposits to Australian online betting sites. So you see, BPay Australia has made the lives of many Australian punters easier by simplifying and protecting monetary transactions.
This may come as news but BPay has been in operation in the country for over 2 decades and has been working with 45,000 Australian businesses. Moreover, BPay betting sites lets customers settle their payments by paying through credit cards, savings account, or credit account.
Furthermore, all the top Australian sports betting sites and casinos use BPay as one of their payment options for deposits. These sites usually are properly licensed and regulated by the Australian gambling authorities and carry out legal financial transactions at all times.
No Need for Third-Party Access
Since all payments are processed for Australian online betting sites through the internet or mobile banking, the activity is carried with the bank’s security system. For that reason, you don’t have to give any credit card information or bank account details to the BPay betting sites.
As such, you don’t have to disclose your banking information to third parties because BPay acts as the middle man.
Easy to Use
Some people think that BPay has an intuitive interface that can quickly and effortlessly integrate into your billing platform. Even if this is your first time hearing about BPay Australian betting payment method, it won’t take you much time to get the hang of it.
The BPay Australia website explains its usage and purpose very clearly and in simple words. You just have to go through the website once to understand how this payment method works at online betting sites Australia.
No Processing Fee
BPay Australian betting sites don’t usually charge bettors when they are depositing funds, but it is not impossible for some banks to set a processing fee based on the transaction. Generally, some banks impose monthly limits on BPay and if you cross it, you may have to pay additional fees.
New and Improved Features
BPay Australia has been improving its features and system since its establishment. Now that Australian punters are relying on quick payment methods, they want to move away from the traditional bank transfer credit card methods.
Having said that, BPay has upgraded its platform for a richer user experience by adding View and Scheduling tools. The View tool lets users keep records of budget management, whereas the Scheduling feature lets users schedule their payments beforehand.
Disadvantages of BPay
Even though BPay is a wonderful instant modern payment method system, it has some drawbacks that you need to be aware of. Here is a list of what you need to know:
Limits on Payments
Generally, there is no payment limit imposed on BPay transactions. But some betting sites Australia may set deposit limits on BPay payments. Additionally, you can also set a daily limit to your BPay for budget management. Even some Australian banks restrict BPay users to cross the daily threshold.
Limits in Availability
Despite its growing popularity, BPay sports betting establishments are not easily available at all times. Sometimes, the Australian betting sites may use other payment methods to process their deposits from punters.
You may find it to be annoying when you have to search for BPay Australian betting sites manually on the internet. Don’t get disappointed if your favourite sports betting website doesn’t acknowledge BPay as an acceptable payment option!
Restrictions on Withdrawals
Based on country-specific legislation, many Australian live streaming sports betting web pages don’t allow punters to withdraw their winnings from the site through BPay. Often, a bank transfer is the only accepted withdrawal method on those sites for anti-money laundering regulations.
Exclusive to Residents of Australia and New Zealand Only
BPay Australian betting sites only serve people who are living in Australia and New Zealand. For that reason, you may have trouble accessing the BPay service when you are overseas or you are betting on an overseas gambling website.
Hindrance to Responsible Gambling
Responsible gambling is a hot topic in the gambling industry, not only in Australia but also in the rest of the world. Although BPay makes deposits fast and easy, it can also pose risk for Australian punters who are susceptible to gambling addiction.
Unlike prepaid card deposits, bank transfers, and other slow payment methods, BPay doesn’t take any time to deposit money to the user’s betting account. For that reason, the bettors are not getting enough cool-off period before depositing more and wagering on more sports and races.
BPay makes it worse with its scheduling tool that lets the bettors pre-schedule their deposits to the bookies! When you consider all these points, you may think that it is better for some gamblers to stick to traditional banking methods instead of opting for modern instant payment methods, like BPay.
Nevertheless, withdrawals are not permitted through BPay in most Australian bookmakers. Hence, the bettors need to wait a couple of days for the funds to reach them due to bank transfer withdrawals. This way, the bettors get a few days off from gambling, which is helping them manage their negative habits.
Security Features of BPay
Australian betting sites have been using BPay for a long time now, but how safe is it? As a rule, BPay utilises internet banking to carry out transactions. Having said that, a BPay betting site Australia uses strict banking protocols when it comes to transferring money.
For this reason, only use BPay through the official app, and refrain from accessing the app on public WiFi. On top of using banking security technology, you should also protect your BPay with a strong password. The banks can’t save your BPay username and password anyway.
Usually, BPay uses the security measures employed by mobile banking or internet banking. Since you are using BPay through a respective banking institution, you are carrying out transactions through the bank’s complex security system. Therefore, any transactions made through BPay are protected by the bank and are completely safe for you.
Final Verdict on BPay
It should be noted that BPay is not the only best payment method that Australian bookies are using these days. There are other reputable companies like PayPal, Skrill, Neteller, PayID, and POLi that are giving BPay good competition in the market.
Having said that, the named e-wallets are all capable of depositing funds to online sportsbooks within seconds without charging the user no or minimal processing fee. These payment options are also convenient to have because bettors can use them to make other types of purchases not related to the gambling industry.
Unlike POLi and PayID, the other e-wallets can be used anywhere in the world on any sportsbook on the globe. This is where the Australia-centered payment methods may lag behind as they can only offer their services to the netizens of Australia and New Zealand.